More provinces to join debt spree after deal

Source: Buenos Aires Herald
By: Herald Staff
04.25.2016

An increasing amount of provinces are confirming their plans to dip into international debt markets a week after Argentina issued its first global bonds in 15 years.

Salta Governor Juan Manuel Urtubey is the latest addition to the list. In an interview with Radio Mitre, the conservative Peronist said his province was planning a US$250-million bond sale to “finance infrastructure investment plans for production and services.”That means Salta joins a long list of provinces with struggling finances that are resorting to local and foreign financers to boost their coffers.

Administrations aligned with President Mauricio Macri — such as those in Mendoza, Jujuy, Buenos Aires City and Buenos Aires province — are ready to issue new debt, and the same is true for Peronist districts such as Chaco, Entre Ríos, Tucumán and districts ruled by other parties such as Santa Fe and Neuquén.

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